TCS asked 500 staffs to leave for poor performance

Tata Consultancy Services (TCS) has asked around 500 people to leave the company after the second annual appraisal it carries out, citing performance-related issues. By the end of the financial year, this number could go up to 600. The employees who were asked to leave are mostly those with 2-3 years of experience and do not include trainees because they have less than a year’s experience.Last week, TCS was in the news for cutting down the variable pay of employees for slippages in internal growth targets — a move that will save it about Rs 83 crore.An official statement from the company termed it a routine exercise carried out bi-annually to weed out non-performers.source--Economic times